Last week's drop of 6.5 percent in the Shanghai Container Freight Index means that the leading index has now decreased 43 percent in just six weeks, or USD 605 per container.
"It is evident that the current development cannot be sustained for long by the carriers. In the absence of a pick-up in demand – which appears unlikely – shippers must indeed be prepared for cancelled services and blank sailings," writes SeaIntel in its latest analysis.
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